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拍卖还是谈判:来自大宗股权交易的实证 被引量：1

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摘要 拍卖与谈判是企业出售的两种常见方式,从出售者收益最大化的角度看,传统理论对这两种交易方式各有支持。大宗股权的出售本质上也是在出售一个公司或企业,所以我们使用了中国上市公司大宗股权转让的交易数据来进行实证分析,研究不同企业出售的交易机制对于股东或股权持有者收益的影响。实证发现,当被交易的股权规模较大,尤其是涉及到控股权的转移时,股权持有人倾向于采用一对一的谈判机制出售企业。而且无论是拍卖还是谈判,股权持有人之间的收益并没有显著的差异。
作者 戎文晋 刘树林
机构地区 对外经济贸易大学国际经济贸易学院
出处 《统计与决策》 CSSCI 北大核心 2009年第3期127-129,共3页 Statistics & Decision
基金 教育部新世纪优秀人才支持计划(NCET-05-0159) 全国优秀博士论文专项基金资助项目(FANEDD-12010001)
关键词 企业出售 大宗股权 拍卖 谈判
分类号 F224.7 [经济管理—国民经济]
  • 相关文献

参考文献9

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共引文献47

同被引文献9

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统计与决策
2009年 第3期

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